Black Hills Corporation (BKH) 2012年年度报告「NYSE」.pdf

1、2012 Annual ReportProxy StatementForm 10K annual dividend increases 42 Consecutive Years$0.43$0.73$0.89$1.08$1.28$1.37$1.40$1.42$1.44$1.46$1.48 1970 1975 1980 1985 1990 1995 2000 2005 2007 2008 2009 2010 2011 2012$0.11$0.13$0.21 Electric UtilityNatural Gas UtilityPower GenerationCoal MineOil and Gas

2、Corporate OfficeCompany HeadquarterslegendIowa151,801 utility customers192 employees130 communities servedKansas110,534 utility customers140 employees59 communities servedColorado166,408 utility customers331 employees52 communities servedsouth daKota65,703 utility customers534 employees23 communitie

3、s servedwyomIng77,746 utility customers290 employees6 communities servednebrasKa196,830 utility customers415 employees106 communities servedAt Black Hills Corporation,our past five years have been some of the most remarkable in our history.In 2012,we continued the story we started 130 years ago.Its

4、the story about how we grew from a small electric company powering the booming mining town of Deadwood,S.D.,to an energy company that serves more than 769,000 customers and employs nearly 2,000 people.Its the story about how we plan to keep growing and serving our customers,employees and shareholder

5、s.In our 2012 chapter,we overcame financial challenges,delivering 2012 adjusted earnings that were up 24 percent compared to 2011.In the past three years,weve grown our adjusted earnings by an average of 15 percent per year.Thats a reflection of our strong capital investment program and disciplined

6、business management.Record-breaking warm winter weather hurt our natural gas utility revenues.Also,the lowest natural gas prices since 2001 lowered profits at our oil and gas business.But we overcame these challenges,delivering great service at a good value for customers while increasing earnings fo